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Corning Incorporated (GLW)

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44.31 -0.68 (-1.51%)
At close: July 19 at 4:01 PM EDT
44.20 -0.11 (-0.25%)
After hours: July 19 at 7:59 PM EDT
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DELL
  • Previous Close 44.99
  • Open 45.08
  • Bid 44.22 x 1000
  • Ask 44.50 x 1200
  • Day's Range 44.19 - 45.01
  • 52 Week Range 25.26 - 46.39
  • Volume 6,012,543
  • Avg. Volume 7,439,595
  • Market Cap (intraday) 37.957B
  • Beta (5Y Monthly) 1.05
  • PE Ratio (TTM) 61.54
  • EPS (TTM) 0.72
  • Earnings Date Jul 30, 2024
  • Forward Dividend & Yield 1.12 (2.53%)
  • Ex-Dividend Date Aug 30, 2024
  • 1y Target Est 42.50

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices. Its Optical Communications segment provides optical fibers and cables; and hardware and equipment products, such as cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories for the telecommunications industry, businesses, governments, and individuals. The company's Specialty Materials segment manufactures products that offer material formulations for glass, glass ceramics, crystals, precision metrology instruments, and software, as well as glass wafers and substrates, tinted sunglasses, and radiation shielding products for various markets comprising mobile consumer electronics, semiconductor equipment optics and consumables, aerospace and defense optics, radiation shielding products, sunglasses, and telecommunications components. Its Environmental Technologies segment provides ceramic substrates and filter products for emissions control in mobile, gasoline, and diesel applications. The company's Life Sciences segment offers laboratory products, including consumables, such as plastic vessels, liquid handling plastics, specialty surfaces, cell culture media, and serum, as well as general labware, and glassware and equipment under the Corning, Pyrex, Falcon, and Axygen brands. The company was formerly known as Corning Glass Works and changed its name to Corning Incorporated in April 1989. Corning Incorporated was founded in 1851 and is headquartered in Corning, New York.

www.corning.com

49,800

Full Time Employees

December 31

Fiscal Year Ends

Recent News: GLW

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Performance Overview: GLW

Trailing total returns as of 7/19/2024, which may include dividends or other distributions. Benchmark is

.

YTD Return

GLW
47.91%
S&P 500
15.41%

1-Year Return

GLW
36.39%
S&P 500
20.86%

3-Year Return

GLW
22.27%
S&P 500
27.22%

5-Year Return

GLW
55.44%
S&P 500
83.80%

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Statistics: GLW

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Valuation Measures

Annual
As of 7/19/2024
  • Market Cap

    37.96B

  • Enterprise Value

    44.88B

  • Trailing P/E

    61.54

  • Forward P/E

    22.57

  • PEG Ratio (5yr expected)

    0.67

  • Price/Sales (ttm)

    3.08

  • Price/Book (mrq)

    3.38

  • Enterprise Value/Revenue

    3.62

  • Enterprise Value/EBITDA

    17.36

Financial Highlights

Profitability and Income Statement

  • Profit Margin

    4.96%

  • Return on Assets (ttm)

    2.85%

  • Return on Equity (ttm)

    5.74%

  • Revenue (ttm)

    12.39B

  • Net Income Avi to Common (ttm)

    614M

  • Diluted EPS (ttm)

    0.72

Balance Sheet and Cash Flow

  • Total Cash (mrq)

    1.36B

  • Total Debt/Equity (mrq)

    71.73%

  • Levered Free Cash Flow (ttm)

    327.12M

Research Analysis: GLW

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Earnings Per Share

Consensus EPS
 

Analyst Recommendations

  • Strong Buy
  • Buy
  • Hold
  • Underperform
  • Sell
 

Analyst Price Targets

33.50 Low
42.50 Average
44.31 Current
51.00 High
 

Company Insights: GLW

Research Reports: GLW

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  • The Argus Min Vol Model Portfolio

    Rapidly rising inflation in 2022 knocked stocks into a bear market. While growth strategies suffered the most, value strategies also declined. Even bond prices were lower that year. Stocks have recovered and a new bull market has started, but gains have been largely driven by only a handful of high-tech companies. Inflation remains an issue and the Federal Reserve has yet to lower rates. Is a recession in the offing? With all the uncertainty, what's a potential equity strategy for investors amid all the uncertainty? Argus believes that Min Vol is an all-weather strategy that is timely in any investing climate. Academic literature and, more to the point, returns history, indicate that Min Vol can deliver market-matching returns on an absolute basis and superior returns on a risk-adjusted basis over various time periods.

     
  • The Argus Min Vol Model Portfolio

    Rapidly rising inflation in 2022 knocked stocks into a bear market. While growth strategies suffered the most, value strategies also declined. Even bond prices were lower that year. Stocks have recovered and a new bull market has started, but gains have been largely driven by only a handful of high-tech companies. Inflation remains an issue and the Federal Reserve has yet to lower rates. Is a recession in the offing? With all the uncertainty, what's a potential equity strategy for investors amid all the uncertainty? Argus believes that Min Vol is an all-weather strategy that is timely in any investing climate. Academic literature and, more to the point, returns history, indicate that Min Vol can deliver market-matching returns on an absolute basis and superior returns on a risk-adjusted basis over various time periods.

     
  • Earnings season is about to begin (which might push stocks higher), stocks

    Earnings season is about to begin (which might push stocks higher), stocks already are at all-time highs, investors are increasingly optimistic that interest rates will start to come down soon -- and corporate insiders increased their selling activity last week. But putting that all in perspective, it is important to note that insiders historically increase selling rates as stocks move higher and higher, taking some money off the table in shares for which they may have paid little or nothing. Also of note is that insiders are entering a period in which they will be limited in their ability to trade because of restrictions in place during earnings season. So they need to trade now or hold their cards for the better part of a month. At the end of the day, we are hard-pressed to ring alarm bells based on current insider sentiment. On a sector basis, selling by insiders last week was greatest in Consumer Staples, with shares valued at $554 million sold, followed by Information Technology ($293 million sold) and Healthcare ($65 million sold). Meanwhile, buying outpaced selling in Industrials, with shares valued at $55 million bought versus $29 million sold, as well as in Energy. This week, analysts at Vickers highlighted insider transactions of interest at Coca-Cola Consolidated Inc. (NGS: COKE) and Noble Corp. plc (NYSE: NE).

     
  • Raises 2Q24 guidance; boosting target price to $50

    Corning Inc. is the leading global supplier of precision glass for liquid crystal displays, and a leader in the manufacture and sale of optical fiber and cable. It participates in the environmental business, with a focus on emission substrates for gasoline and diesel engines, and is also active in the life sciences business. Specialty Materials operations produce Gorilla Glass, the fast-growing, tough-cover glass used in smartphones and tablets.

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